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In what’s an increasingly cut-throat market, FTSE 100 retailer Sainsbury’s (LSE:SBRY) has been making impressive progress and in the last year (to February) delivered its greatest market share gains for more than 10 years.
Sales rose 4.2%, or 3.2% on a like-for-like basis, reflecting what its chief executive says is “a winning combination of value, quality and service that customers love“. To celebrate, it announced plans to reward shareholders with £250m of special dividends and a share buyback programme of £200m.
Britain’s second-largest supermarket has plans to build on its recent progress, having acquired 14 new supermarket sites to expand its store estate. Market conditions are tough, but the grocer’s heavy investment in prices, products, and the pulling power of its Nectar loyalty programme continue to attract yet more punters.
Reflecting its recent successes,…
